The Advisory Committee has tabled five proposals to the National Economic Council pertaining to reviving the economy.
The Advisory Committee met for the first time today with President Gotabaya Rajapaksa, who chairs the Economic Council.
The President appointed a 16 member Advisory Committee on the 15th of March to support the National Economic Council on seeking solutions to the present economic crisis.
The President’s Media Division said the five proposals included:
- Appointing a technical committee comprising officials of the Central Bank of Sri Lanka and the Treasury to propose international financial facilities.
- The immediate appointment of a financial and legal adviser.
- Appointing a technical committee to propose restructuring international financial facilities.
- Identifying a specialist team to support the Minister of Finance.
- Boosting confidence to avoid supply disturbances.
The Advisory Committee on a separate note claimed short and long team measures to strengthen refinancing and steering the economy in the right direction must also be reached.
The Committee also claimed that Sri Lanka is battered by the effects of developments across the world.
They acknowledged that the foreign exchange crisis as the main obstacle.
The Committee believes the challenges can be faced through stringent management and thereby avoid the short-term economic drawbacks.